In a report released today, Mayank Mamtani from B.Riley FBR reiterated a Buy rating on Genfit SA (GNFT), with a price target of $52. The company’s shares closed yesterday at $25.22, close to its 52-week high of $26.08.
Mamtani observed:
“We came away encouraged from multiple clinical and pre-clinical stage readouts from Genfit SA (GNFT) presented at the recently concluded 4/11 – 4/14. Most notably, GNFT’s full Ph. II 12-week elafibranor treatment data in Primary Biliary Cholangitis (PBC), a rare orphan liver disorder, came generally ahead of investor expectations after the initial topline results were reported earlier in Dec’18. As highlighted in our initiation note ( link), elafibranor’s clinical profile in PBC had been largely overlooked in terms of (1) incremental commercial opportunity in this orphan indication, and (2) readthrough to Ph. III RESOLVE-IT readout in non-alcoholic steatohepatitis (NASH) that is expected in 4Q19.”
According to TipRanks.com, Mamtani is a 3-star analyst with an average return of 5.5% and a 54.8% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Genfit SA with a $51.96 average price target.
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The company has a one-year high of $26.08 and a one-year low of $20.32. Currently, Genfit SA has an average volume of 390.6K.
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Genfit SA is a biopharmaceutical company involved in drug discovery and development for the early diagnosis, prevention and treatment of cardiometabolic diseases. The company focuses on the discovery and development of drug candidates in areas of high unmet medical needs corresponding to a lack of suitable treatments.
